There is no recourse to be had.

Target market is Davenport, IA and the surrounding area in Iowa due to my family being there and the businesses/colleges in the area.  

Any tips or advice would be greatly appreciated!

I'd avoid doing it on the first or last week of the month as there isn't enough time to let tenants know and PMs are busy enough (as you know) with people moving in and out. 

We added value by making a accent while in the living room, as well as refreshing all the furniture and decorations, painting the property, making a back door. back door out of the master bedroom because there was no way to get to the backyard without having to go through the side as well as some landscaping & new washer dryer.

You may already know this but as a good rule of thumb if Property purchase price plus rehab is less than or equal to 70% of the After repaired value you are going to be a winner 9/10 times. 

I can see the advantages of being able to get a down payment to reinvest in a small MFR and I will be able to capitalize on my lower interest for some positive cash flow.All of the disadvantages I can think of involve some upfront investment for legal advice and work, time for further education and that's about it.Any feedback will be greatly appreciated.Thanks all!

However, this would be putting 2 attached units in front and 2 attached units at the back so don't think that would fly but if it does that would be fantastic.

If nothing else these would be added to the amount owed to you.We love subordinate lenders behind our first-position liens.

Well there are construction loans that essentially bundle the monthly payments into the loan.